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The Final Reckoning
Sean H. & Jocelin A.
April 08, 2025 • Estimated Reading Time: 10 minutes
TLDR
MARKET RECAP → 📉 Stocks slipped Tuesday as a brief relief rally fizzled and nerves kicked back in ahead of Trump’s looming tariff deadline — with a 104% cumulative tariff on China set to hit just after midnight.
MICRON ADDS SURCHARGE AS TARIFFS BITE →📦 Micron passed new Trump-era tariffs directly to customers, slapping a surcharge on memory modules and SSDs as global chipmakers scramble to stay profitable.
RIPPLE MAKES BIG BET WITH HIDDEN ROAD DEAL → 🚀 Ripple shelled out $1.25B to acquire Hidden Road, marking one of crypto’s largest deals as it doubles down on Wall Street infrastructure—and bets big on its stablecoin becoming prime brokerage collateral.
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TODAY’S TOP NEWS
Micron Adds Surcharge as Tariffs Bite
🔌 Micron told U.S. customers it would tack on a surcharge to memory modules and SSDs starting April 9, due to Trump’s latest tariff rollout. While semiconductors were spared, these specific products weren’t, and the cost is being passed along.
📦 The company sources heavily from Asia—China, Taiwan, Japan, Malaysia, and Singapore—meaning much of its inventory is now tariff-exposed. Micron had already hinted at price hikes in a recent earnings call, citing both tariffs and a spike in demand.
📈 The surcharge mirrors moves by other global suppliers, as manufacturers scramble to navigate Trump’s “reciprocal” tariffs of up to 50%. One Asian exec put it bluntly: “If customers won’t cover the tax, we won’t ship.”
TODAY’S TOP NEWS
Ripple Makes Big Bet With Hidden Road Deal
🪙 Ripple made its biggest move yet by acquiring prime brokerage firm Hidden Road for $1.25 billion, marking one of the largest deals in crypto history. The acquisition topped Stripe’s $1.1 billion buy of Bridge, with plans for Hidden Road to integrate Ripple’s RLUSD stablecoin as collateral.
📉 Hidden Road, which clears over $3 trillion annually, had been constrained by balance sheet limitations and sought capital to scale. Ripple CEO Brad Garlinghouse called the deal a win not just for Ripple, but for the industry’s push into traditional finance.
📊 A favorable regulatory shift post-Trump’s re-election and Ripple’s recent win against the SEC helped fuel the deal. Garlinghouse said the new environment made acquisitions like this possible, as crypto firms shift from legal defense mode to strategic expansion.
KEEP READING
Treasury Secretary Bessent says China’s escalation was ‘big mistake,’ country playing with ‘losing hand’’ (CNBC)
Trump tariffs: White House says 104% China tariffs take effect at midnight (CNBC)
Walgreens tops estimates as drugstore chain cuts costs, prepares to go private (CNBC)
Oil prices steady after booking steep losses on fears of full-blown trade war (CNBC)
Fake job seekers are flooding U.S. companies that are hiring for remote positions, tech CEOs say (CNBC)
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